Stock market today: Indian equity benchmarks extended their gains on Thursday, 25 June supported by softer crude oil prices and positive global market cues that boosted investor sentiment.
At around 12:50 PM IST, the NSE Nifty 50 was trading 0.70% higher at 24,191.35, while the BSE Sensex advanced 0.68% to 77,513.99.
Market sentiment remained broadly positive, with buying interest visible across most sectors. Realty, auto, financial services, and cement stocks led the gains, reflecting continued investor preference for economically sensitive sectors. Banking shares also contributed significantly to the rally amid an improving market outlook.
However, metal and media stocks underperformed the broader market, witnessing selective profit-booking. Despite the weakness in a few pockets, overall market breadth remained positive, indicating broad-based participation in the ongoing uptrend.
Market Views – Nagaraj Shetti, Senior Technical Research Analyst of HDFC Securities
Nifty 50
Nifty 50 witnessed sharp bounce back on Wednesday and continued its follow-through action so far Thursday. Nifty 50 is currently trading higher by 170 points. Bullish pattern like higher highs and lows is intact and the recent swing low at 23,789 could be considered as a new higher low of the pattern.
The short-term trend of Nifty 50 continues to be positive. A decisive move above 24,200 levels could open sharp upside towards 24,500-24,600 levels in a quick period of time. Immediate support is placed at 24,050 levels.
Buy Ashok Leyland at ₹159.50, Target at ₹168, Stoploss at ₹155, Timeframe 1 week
After showing a downward correction in the last couple of weeks, the automobile stock has rebounded sharply in the last two sessions. Currently, placed at the edge of breakout of 200day EMA around ₹159.50 levels. Volume pattern and daily RSI shows positive indication.
Buy Mahindra & Mahindra Financial Services at ₹320, Target at ₹340, Stoploss at ₹310, Timeframe 1 week
After a minor downward correction in the last week, the Auto Finance stock has witnessed sharp breakout so far this week. The crucial hurdle of 200day EMA has been surpassed on the upside at ₹314 levels. Bullish pattern like higher tops and bottoms is intact.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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